Oslo over the counter (OTC) listedDorian has printed 28,182,000 new shares at NOK 22 ($3.56) apiece, it announcedtoday.

It says the move will be worth around$100m after fees have been deducted.

Dorian explains the cash will be usedto part finance its newbuilding programme, which presently extends to 16vessels.

The owner listed on Oslo’s juniormarket last summer, raising $168m from its flotation.